Of Thanks to Floudopoulos
A new target price of 22 euros from 17.4 euros was previously set for the share of Mytilineos by a new report of Pantelakis, which at the same time recommends a strong buy.
This increase, with the upward margin in relation to the current levels of the stock exceeding 45%, occurs as a result of a series of actions and in particular:
The completion, in 2022 and the direct contribution to the company’s profitability, of the new power plant that will double the production of MYTILINEOS from thermal sources,
The timely turn of the company in Renewable Energy Sources and the “Green Go”, having laid the foundations for the construction of 1.5GW wind farms, which will be completed in the coming years.
The dynamics that the Aluminum market has developed with the forthcoming increase in demand for “Green” Aluminum, especially in markets such as Europe, to which MYTILINEOS is ready to respond.
Finally, the central role that MYTILINEOS is expected to play in the European Recovery Package, in which, among many others, large infrastructure projects will be included and financed on very favorable terms, focusing on the “Green Transition”.
According to the report, despite the stock rally in 2021, there is still significant room for growth as after 4 years that EBITDA profitability moved to the level of 300 million euros, operating profit is expected to exceed 500 million euros in 2023, before reaching 600 million in 2024.
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Source From: Capital
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